By Laura Lutz
Des Moines, May 24 - Dejour Enterprises Ltd. closed a private placement of units for C$10 million, down from the C$21.2 million offering size announced on April 24.
The company sold units of one share and one half-share warrant at C$2.65 each. Each whole warrant is exercisable at C$3.35 for two years.
The company may call the warrants if its closing stock price exceeds C$5.00 for 10 consecutive trading days.
Insiders of the company bought 171,000 of the units.
The deal was non-brokered.
Proceeds will be used for the development of the company's North American energy holdings, for potential acquisitions and for working capital.
Dejour, based in Vancouver, B.C., is an oil and natural gas exploration company.
Issuer: | Dejour Enterprises Ltd.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$10 million
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Price: | C$2.65
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$3.35
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Placement agent: | Non-brokered
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Pricing date: | April 24
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Settlement date: | May 24
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Stock symbol: | TSX Venture: DJE
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Stock price: | C$2.77 at close April 24
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Stock price: | C$2.57 at close May 24
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